The rural property market is still ‘hot’ in many areas of the South East with the most desirable properties quickly going under offer and sometimes with competitive bidding amongst rival buyers. So, if you are looking for your next rural home, what can you do to speed up the process.
For buyers:
- Make sure you are registered with us and we know what you are looking for and be very focused on what you want. Whilst it is easy to rely on viewing properties online, proactive agents like ourselves will be notifying our contacts the minute a property is live.
- Consider using a search agent such as our BTF Finder’s service which can help you to be more focused, especially if you are new to an area.
- Consider what you can compromise on. In a competitive market it is worth thinking about what you really want and if you can replicate some of the things that a property is missing, especially if it ticks 7 or 8 out of 10 must haves.
- It is largely a sellers’ market at the moment and prices are reflecting this, so if you like to negotiate and drive a hard bargain, you may find you lose out to someone who will pay the asking price or more. That said, be wary about paying a premium for a property unless it is a long term investment.
- Be ready to ‘go’ as soon as your offer is accepted. Make sure you have a mortgage offer in place, your own house sale progressing or completed and if you are a cash buyer, the money easily accessible.
- There will need to be flexibility, especially if there are others in the chain. The sale and purchase can only proceed at the speed of the weakest link, it is therefore sometimes worth seeing if there is anything you can do to help the process along.
- Make sure you employ a proactive team of experts to keep your move on track. Have a good solicitor, mortgage adviser, surveyor and removal firm lined up and brief them well at the start of the process.
For sellers:
- It is a sellers’ market but that might also be frustrating for you if you are also planning your next move. If you get a keen and ready buyer, it is worth progressing as quickly as you can so you don’t lose the sale, which will help free you up to make your next move rather than being in a chain.
- Keep the house and garden looking neat and tidy as you can so it doesn’t distract buyers from the potential for the property or lead them to question the value, unless it is being marketed as a renovation project.
- Don’t get too hung up on values – whilst some deals are being done in excess of the original guide price, if the buyer is obtaining a mortgage, the property still needs to be valued realistically to satisfy the lender and to proceed to competition.
- Before accepting an offer, discuss the position of the person making it with your agent to see how committed they are and ready and able to proceed.
- Get all of your paperwork ready so you can progress to exchange as quickly as possible and your buyers might be happy to delay completion to allow you to plan your next move. You might also want to consider using a buying agent to help you search for and find your next move.
Moving home is considered to be a stressful event, but remember, if you surround yourself with the right team, they will be there to help you move on quickly and as efficiently as possible.
To discuss your next rural property move, contact our team to discuss further:-
challock@btfpartnership.co.uk / heathfield@btfpartnership.co.uk
